Jan 16 2012

UK Labour Party gets tough on tax havens

Posted by: Nick Shaxson in: Thoughts

From the Tax Justice Network Blog:

The Independent says of a speech by the UK Labour Party’s leader:

Ed Miliband declares war today on the UK’s secretive offshore tax havens which he says could raise £2.4bn for the Exchequer and help to reduce the deficit.

and the UK’s Observer has more:

Ed Miliband, the Labour leader, is to demand that the government forces Jersey, Guernsey and the Isle of Man to reveal the identity of British tax evaders with money hidden on the islands

We have had plenty of beefs with the UK’s opposition Labour Party in the past, as we do with the current UK government – but it seems like two things are happening here.

1. The Labour Party is acquiring some backbone.
2. The Labour Party has understood the public mood and captured the spririt of the 99% – if you protest about the corruption of capitalism, you will carry the public with you. And there’s nothing like tax havens to corrupt capitalism.

For more in-depth analysis on these welcome development, see TJN Senior Adviser Richard Murphy, who has been influential in this respect. See

  • What Labour has said on tax havens
  • Isle of Man ‘not worried’ about Labour threat
  • Ed Miliband’s giving an ultimatum to tax havens
  • Ed Miliband says it’s time to come clean on UK tax havens
  • (slightly separately) KPMG in the Isle of Man admits the island may be used for egregious tax avoidance

More on this from TJN in due course. But taken at face value, this is a fantastic development.

Leave a comment